The  foundation stone for Bharat Mart, a 2.7-million-sq-ft market and trading platform for Indian businesses in Dubai, was laid during a ceremony held at the recent World Governments Summit 2024.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; and Narendra Modi, Prime Minister of India, took part in the ceremony.

The market, situated in the Jebel Ali Free Zone (Jafza), will be part of a wider trade ecosystem that DP World is developing through the Dubai Traders Market, a hybrid retail and wholesale marketplace that will host traders from around the world, reported Wam.

Expected to open in 2026, Bharat Mart will offer a world-class trading platform for Indian manufacturers and exporters to access global markets, the Wam report said. Bharat Mart is poised to become a mega distribution hub for Indian businesses to trade domestically in the UAE and re-export to regional and global markets. Phase One of the project encompasses an area of 1.3 million sq ft.

Bharat Mart is projected to house 1,500 showrooms catering to retail and wholesale customers, and over 700,000 sq ft of Grade A warehousing space, providing tenants with combined free zone and onshore benefits. The facility will also offer light industrial units, office spaces and meeting facilities, it stated.

The mart is located 11 km from Jebel Ali Port, the largest seaport in the Middle East, and 15 km from Al Maktoum International Airport, providing seamless multimodal logistics solutions for Indian exporters.

Through the Jebel Ali ecosystem, traders will have direct connectivity to more than 150 maritime destinations and air links to over 300 cities.

The foundation stone-laying ceremony was also attended by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, along with other high-profile dignitaries.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group, said: “By laying the foundations for Bharat Mart, we are paving the way for stronger trade ties between the UAE and India. Our nations have set themselves the target of reaching $100 billion in non-oil bilateral trade by 2030, and Bharat Mart will support this goal, creating more opportunities for Indian manufacturers and contributing to government initiatives like Make in India and D33.”

Close to 1,500 Indian businesses have made Jafza their home in the UAE, trading more than five million metric tonnes of cargo valued at $8.6 billion, he added.